Quantum Space, a startup with plans to build highly maneuverable spacecraft for the U.S. military, announced plans to go public through a $1.2 billion merger with a publicly traded special purpose acquisition company, or SPAC.

In a season of mega-IPOs, there’s something almost quaint about a SPAC — in 2021, a fad for going public through the vehicle began in the space sector and spread throughout the tech world. Many SPACs proved disastrous for retail investors who wagered on immature companies, but a few deals, notably Rocket Lab and Planet, proved successful.

Another positive outcome was Intuitive Machines, a purpose-built NASA contractor launched by Kam Ghaffarian, a long-time space investor who backed a team of former NASA officials eager to sell their expertise back to the agency. Today, Intuitive Machines is a $6.4 billion company sending a regular cadence of robotic missions to the moon.

Now, Ghaffarian is trying to do it again with Quantum Space, a startup he launched in 2020 to capitalize on the founding of the U.S. Space Force and the growing need for vehicles that can move between orbits and rendezvous with other spacecraft.

“Defense spending, space infrastructure, and America’s strategic priorities in orbit are converging at exactly the moment Quantum Space is ready to scale,” Ghaffarian told TechCrunch. “The Space Force’s requirements are growing rapidly, and demand for maneuverable spacecraft is accelerating. Ranger is purpose-built to meet both.”

At the helm is CEO Jim Bridenstine, a former member of Congress and the NASA administrator during President Donald Trump’s first term. A champion of public-private partnerships, Bridenstine will aim to leverage his knowledge of the space industry to win key contracts.

Quantum Space is involved in six government development programs, including one that may see its vehicle head for the moon. But the company has a simple focus.

“We are designed specifically for the national security,” Bridenstine said. While most satellites only carry enough fuel to alter their position slightly and eventually dispose of themselves, a newer generation of spacecraft — including some fielded by Russia and China — are designed to move rapidly between orbits and remain in place for sustained surveillance work.

Ranger, the company’s spacecraft, is designed to match and exceed those competitors. It is expected to carry significant fuel, allowing it to remain in high orbits over long periods to watch rival satellites. The vehicle also has to be refuellable in order to qualify for Andromeda task orders.

Quantum Space was selected to join the Andromeda contract, a $6.2 billion effort that will task companies to develop vehicles for space-based reconnaissance. Now it has to win task orders for actual funded missions starting in 2030.

The SPAC transaction is expected to raise $300 million in private investment alongside any public proceeds, which will be used to build manufacturing facilities in Tulsa, Oklahoma, capable of producing one Ranger per quarter by the end of 2028. The next step is launching the first Ranger prototype to orbit in 2027. The deal is sponsored by Mike Blitzer, the financier who helped bring Intuitive Machines and USA Rare Earth to public markets.

Still, the decision to leave private markets behind highlights the competition Quantum Space faces. True Anomaly, a startup that is also competing for Andromeda task orders, has raised $1 billion from venture investors. The company is also looking to beat out established defense contractors like Lockheed Martin, Northrop Grumman, and Boeing’s Millennium Space Systems, among others.

China wants its electric vehicles to go on a diet. The average passenger car in the country weighed 1,704 kg in 2024, roughly a third more than in 2012, state broadcaster CCTV reported on Sunday. Many popular SUVs and MPVs now approach or exceed 2 metres in width, squeezing into parking spaces designed a decade ago for smaller cars.

One vehicle measured by CCTV was nearly 2.3 metres wide. The current standard parking space is 2.4 metres. That leaves 10 cm of clearance, barely enough to open a door.

The weight problem starts with batteries. Some manufacturers market vehicles with ranges up to 1,000 km on a single charge, which can require battery packs weighing as much as 800 kg, according to experts cited in the report. Heavy batteries are not unique to China, but the scale of the problem is, given that the country produces more EVs than any other nation.

Feature bloat is also a factor. China’s crowded EV market has pushed manufacturers to differentiate by turning cars into mobile living spaces. Some models let users work, watch videos, drink coffee, and rest inside. A few even come with in-car toilets, CCTV reported. Each feature adds weight.

Beijing has already responded. On 1 January 2026, China became the first country in the world to enforce a mandatory energy consumption standard for electric vehicles. The rule caps two-tonne EVs at 15.1 kWh per 100 km under the Chinese CLTC cycle, tightening limits by approximately 11% compared with previous recommendations. New EV models that fail the standard cannot be produced, sold, or registered.

The regulation pushes manufacturers toward efficiency rather than simply adding bigger batteries. Better aerodynamics, lighter materials, and drivetrain optimisation become more important than raw range figures. With battery capacity unchanged, compliance is expected to increase an average EV’s range by about 7%.

The timing matters. China produced 16 million electric cars in 2025, according to the IEA, and exports are surging into new markets. Lighter, more efficient vehicles would not only ease domestic infrastructure pressure but also help Chinese automakers meet emissions and efficiency standards in export markets like the US and Europe, where regulations are tightening in parallel.